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MountOlympusFx

USDJPY BUY: Weekly, Daily & 4hr Breakdown.

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
MountOlympusFx Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY Forex
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trendanalysis harmonicpatterns chartpattern usdjpy forex
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USDJPY Long Thesis
Weekly:
• After Creating new low price is now retracing to retest previous levels broken.
• Last week candle spike down to 108.50 psychological level but rejected and closed above 109.50 as a bearish hammer.
• More bullish movement expected.
Daily:
• Price rejected heavily off 108.50 and Friday candle close as a bullish engulfing candle engulfing previous 2 days.
• Price broke through 109.23 and is now expected to reach 109.87.
4hr:
• Its likely for price to pullback to 109.23 for a retest before going long to 109.87 for a new bullish leg.
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